Analysis for April 23rd, 2014
EURUSD, “Euro vs US Dollar”
Euro is still consolidating; market is forming continuation pattern to continue falling down. We think, today price may move downwards to form the third wave of this correction with target at level of 1.3750 and then return to level of 1.3800. Later, in our opinion, instrument may complete this correction by falling down and forming the fifth wave with target at level of 1.3710.
GBPUSD, “Great Britain Pound vs US Dollar”
Pound is still moving upwards and forming ascending structure with target at level of 1.6905; right now market is consolidating. We think, today price may fall down towards lower order of this consolidation channel to expand it downwards a little bit and then start moving upwards to break upper border and continue growing up towards above mentioned target. Later, in our opinion, instrument may form reversal pattern to start new correction towards level of 1.6690.
USDCHF, “US Dollar vs Swiss Franc”
Franc is still forming ascending structure with target at level of 0.8800, which may be considered as the third wave. After reaching it, price may return to level of 0.8830 and then complete this ascending structure by growing up and forming the fifth ascending wave.
USDJPY, “US Dollar vs Japanese Yen”
Yen is still moving inside ascending wave with target at level of 103.00; right now market is consolidating inside the third ascending structure. We think, today price may reach above-mentioned target and fall down towards level of 102.40. Later, in our opinion, instrument may complete this correction by growing up and reaching level of 103.10. After that, market is expected to move downwards to reach level of 100.00.
AUDUSD, “Australian Dollar vs US Dollar”
Australian Dollar reached target of its descending wave. We think, today price may consolidate for a while, form reversal structure, and then start new correction towards level of 0.9370. Later, in our opinion, instrument may continue falling down.
USDRUB, “US Dollar vs Russian Ruble”
Ruble continues moving upwards. We think, today price may reach target at level of 35.81 and then form another descending structure towards level of 34.78. Later, in our opinion, instrument may continue growing up to reach level of 36.00.
XAUUSD, “Gold vs US Dollar”
After market opening, Gold completed another descending structure and formed ascending impulse. We think, today price may continue forming ascending structure towards level of 1300 and then fall down to reach level of 1290. This structure may be considered as reversal pattern to continue growing up towards next target at level of 1357.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD rises to daily tops past 1.0800 post-NFP
The selling bias in the Greenback gathers extra pace on Friday after the US economy created fewer jobs than initially estimated in April, lifting EUR/USD to the area of fresh peaks above 1.0800.
GBP/USD surpasses 1.2600 after disheartening US Payrolls
The resumption of the downward pressure in the US Dollar motivates GBP/USD to extend its earlier advance to the area beyond 1.2600 the figure in the wake of the release of US NFP.
Gold climbs to new highs above $2,300 on poor NFP prints
The precious metal maintains its bullish stance and breaks above the $2,300 barrier on Friday after US Nonfarm Payrolls showed the economy added fewer jobs than expected during last month.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.